Applied Optoelectronics Inc (AAOI) Director Richard B. Black Sells 1,000 Shares of Stock
Applied Optoelectronics Inc (NASDAQ:AAOI) Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $40.43, for a total value of $40,430.00. Following the transaction, the director now directly owns 35,478 shares in the company, valued at $1,434,375.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) opened at $40.52 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.02 and a current ratio of 2.99. Applied Optoelectronics Inc has a 52 week low of $21.88 and a 52 week high of $103.41. The stock has a market cap of $749.90, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.59 and a beta of 2.88.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $88.53 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Applied Optoelectronics’s quarterly revenue was up 26.8% compared to the same quarter last year. sell-side analysts predict that Applied Optoelectronics Inc will post 4.22 EPS for the current year.
Several research firms have commented on AAOI. Needham & Company LLC dropped their target price on Applied Optoelectronics from $115.00 to $75.00 and set a “strong-buy” rating for the company in a research report on Friday, October 13th. BWS Financial reiterated a “sell” rating and issued a $25.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $63.00 price target on shares of Applied Optoelectronics in a report on Friday, October 13th. Cowen reissued an “outperform” rating and issued a $81.00 target price (down from $102.00) on shares of Applied Optoelectronics in a research report on Friday, October 13th. Finally, DA Davidson restated a “buy” rating and set a $69.00 price objective on shares of Applied Optoelectronics in a research report on Wednesday, November 8th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $60.20.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Applied Optoelectronics by 86.8% during the second quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock worth $129,346,000 after purchasing an additional 972,428 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Applied Optoelectronics by 49.8% during the second quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock worth $58,917,000 after purchasing an additional 317,033 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of Applied Optoelectronics by 113.9% during the third quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock worth $52,742,000 after purchasing an additional 434,207 shares in the last quarter. FMR LLC acquired a new position in shares of Applied Optoelectronics during the second quarter worth $45,101,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Applied Optoelectronics during the second quarter worth $44,798,000. 76.69% of the stock is currently owned by institutional investors and hedge funds.
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About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
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